article/opinion/columns/tata- mistry-corporate-dispute- nusli-wadia-sebi-appointment- removal-of-independent- directors-7403380/
- In the intro, give a brief introduction about the independent directors.
- In the body, describe the objectives of appointing the independent directors on the board of listed companies, like safeguarding the minority shareholders, improving the corporate governance etc. In the next part, describe the issues such as appointment of ‘friendly’ independent directors by promoters due to their dominance in the appointment process, appointment of party affiliated persons by the government in public companies. In the suggestion mention adoption of the ‘dual approval’ system as proposed by SEBI in its consultation paper.
- Conclude by mentioning the need for SEBI to adopt the dual approval system for appointment as well as removal of the independent directors.